The reported half-year figures show an increase from AED 39 million this time last year, to AED 62 million in net profits from January to June 2017 – an increase of 59% compared to the same period in 2016.

The firm is listed on the Abu Dhabi Stock Exchange, and currently has total assets valued at AED 5.11 billion, an increase on the AED 4.99 billion recorded at the end of last year.

Commenting on the results, Managing Director and CEO Mohammed Sultan Al Qadi, said: “our half year results serves as proof that, with unwavering support from investors for our developments across the UAE, RAK Properties continues to go from strength to strength. Having already completed several key projects and accomplished various operational achievements, we look forward to the remainder of 2017.”